Mech-Mind, a China-based industrial robotics developer backed by semiconductor and data technology provider Intel, has secured more than RMB100m ($14.3m) in series B financing, DealStreetAsia has reported.
Venture capital firm Sequoia Capital China led the round, which came in the wake of an investment of undisclosed size from Intel’s corporate venturing subsidiary, in August 2019.
Founded in 2016, Mech-Mind provides robotics systems that utilise 3D vision and deep learning technology to enhance industrial processes such as car assembly, automotive components manufacturing and e-commerce logistics.
The company had previously raised undisclosed amounts in a series A round led by Qiming Venture Partners and a series A-plus round led by fellow VC firm Delian Capital, prior to Intel’s investment.
